MarketBreakdown | NZDUSD, USDCHF, S&P500, CADJPY

١٣ ديسمبر ٢٠٢١

Hey traders,
here is a brief technical outlook of 4 peculiar instruments in my watch list:

1️⃣ NZDUSD - Weekly time frame 🇳🇿🇺🇸

The pair has recently broken and closed below a key weekly level.
Bias remains bearish and a further decline is expected.
Consider intraday time frames for occasional short entries.

2️⃣ USDCHF - Weekly time frame 🇺🇸🇨🇭

The market is trading in a global bearish trend.
Currently, the pair is in a correction cycle:
the price is steadily recovering within a bearish flag pattern.

To catch the next bearish wave, wait for a bearish breakout of its support.
You need at least a weekly candle close below that to confirm the breakout.

3️⃣ S&P500 Index - Daily time frame 📈

Again the market is approaching the all-time's structure high.
I will expect a bullish breakout and bullish trend continuation.

4️⃣ CADJPY - Daily time frame 🇨🇦🇯🇵

The pair is trading in a global bullish trend.
Reaching 93.0 level the market retraced.
The market is currently falling within an expanding wedge pattern.

To catch the next swing up wait for its bullish violation.
You will need at least a daily candle close above its resistance to confirm the breakout.

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